Residential Reports

Eastern Suburbs Residential Report – Autumn 2018-The latest price data points to Eastern suburbs residential values consolidating at current high levels. We expect sales activity to lift from recent lows and this is already evident in January and February 2018 when compared to the same months in the prior years. The rest of the year should see further improvements in activity. Values in the Eastern Suburbs ended 2017 on a high note and have held reasonably firm entering the 2018 year with a median sell price of $1,578,500 in the first quarter of 2018, down just 2.6% on the prior quarter. Despite this slight decrease, values in the Eastern Suburbs market remain well underpinned through a strong labour market, persistent low interest rates, above average migration […]

Wellington Residential – Autumn 2018-A solid rebound in sales activity in 4Q 2017 which has continued into 2018 has seen the Wellington market retain its position as one of the tightest markets in the country. We expect these strong conditions to continue for the remainder of the year. The imbalance between supply and demand in the Wellington market has seen median values continuing their upward trend. The median sell price across the Wellington residential market experienced strong growth over the 2017 year increasing by 9%. Over the June 2017 quarter a record high median value of $680,500 was witnessed, after a slight lull, the median price bounced back to finish the year at the same record high. In line with national trends, sales volumes […]

Lower Hutt Residential – Autumn 2018-Lower Hutt has recently hit its highest median value on record. Sales activity has consistently outperformed other areas of the Wellington region with buyers continuing to see value. Looking forward we expect this momentum to continue for the rest of the year. The median sell value in the Lower Hutt reached $500,000 over the final quarter in 2017, the highest level on record and up 5.8% from the prior quarter. Sales activity within the Lower Hutt decreased by 12% over the September 2017 quarter, but still outperformed the Central Wellington market where transactions decreased more than twice this amount. The decrease in sales activity was due to the general election and change in government causing uncertainty in the market. Transaction […]

Kapiti Coast Residential – Autumn 2018-The Kapiti Coast’s residential property market continues to shine with sales activity and price growth well above the national average. Buyer confidence remains strong and we expect current buoyant conditions to remain for the rest of the year. The Kapiti Coast has experienced rapid value growth over 2017, up 16% from the prior year and reached the highest median value on record of $522,500 over the December 2017 quarter. The election and subsequent change in government causing uncertainty in the market was reflected in the decrease in transaction counts over the September 2017 quarter. Sales activity however bounced back by 25% to above previous levels over the December 2017 quarter. The Kapiti Coast’s proximity to Wellington has been significantly enhanced […]

Upper Hutt Residential – Autumn 2018-Tight market conditions within Wellington Central are contributing to increasing demand in the accessible Upper Hutt region where median values remain well underpinned and sales activity continues to rise. The Upper Hutt Residential market has remained strong over the 2017 year with sales volumes and values remaining robust. Transaction counts have shown a continued upward trend since the June 2017 quarter, outperforming a number of markets across the country where a drop in sales activity was witnessed as a result of the election and subsequent change in government. The median sell price increased by 12% over the year to December 2017 with buyers continuing to see value in their purchases. In line with national trends however the median sell price […]

North Shore Residential Report – Autumn 2018-North Shore residential activity looks set to improve in 2018. Following a sharp drop in the number of sales over the second half 2017, activity levels look to have found a base and we expect volumes to continue to improve from here. With a current median value of $1,073,750, North Shore residential prices remain well underpinned. Over the latter part of 2017, both the wider Auckland region and the North Shore experienced a softening in market activity with volumes falling 16% and 18% respectively, when compared to the same quarter last year. Encouragingly the North Shore experienced an upturn over the December 2017 quarter with sales activity increasing by 8%, outperforming the broader Auckland market which experienced a 3% increase […]

Ponsonby and Surrounds Residential Report-Its back to business in the Ponsonby and surrounding real estate market. Following an easing in activity in the lead up to September’s election last year, transactional volumes are already picking up. We expect this momentum to continue in 2018. The Ponsonby and surrounds residential market, including Freemans Bay, St Marys Bay, Herne Bay, Westmere, Pt Chevalier and Grey Lynn, remains well positioned in the Auckland market. Over the latter part of 2017, a softening in overall market conditions was evident. Ponsonby and Surrounds however has experienced a sharp rebound over the December quarter, with sales activity increasing by 29% compared with the September quarter. The local market has therefore performed strongly compared with that of the wider region, which […]

Upper Clutha Residential – Summer 2017-Fuelled by strong population growth and a rapidly expanding tourism sector, the Wanaka residential market has seen continued value growth over the last 12 months. As at the September 2017 quarter, the median sales value of the Wanaka market sat at $920,000. This latest quarterly value equates to an annual increase of 13.4% from the September 2016 quarter. When compared with the same quarter two years earlier, the rate of growth has been a remarkable 39.1%. When quarterly fluctuations are smoothed using 12-monthly moving averages to September 2017, the sharp growth in prices since 2014 becomes more evident. Sales activity has eased 27% over the past 12 months to September 2017 to 225 transactions, down from 310 a year earlier. […]

Ponsonby and Surrounds Residential – Spring 2017-The Ponsonby and surrounds residential market, encompassing Freemans Bay, St Marys Bay, Herne Bay, Westmere, Pt Chevalier and Grey Lynn, saw a sharp increase in values over the June quarter of 2017. The local market has outperformed that of the wider region as a whole where median prices have plateaued following the imposition of loan-to-value restrictions and tighter credit assessment policies. The median sales value within the Ponsonby and surrounds market lifted by 4.2% in the June quarter, reaching a new record of $1,550,000. When compared with the same quarter a year earlier, the lift in the median sales price was 6.9% or $100,000. This compares to a 2.4% increase in the wider Auckland region over the same period. In […]

Kapiti Coast Residential-Residential property values in the Kapiti Coast market have continued to rise over the first half of 2017. The local median lifted by 1.9% and 1.2% in the March and June 2017 quarters respectively, reaching a new record of $495,000. Compared with the same quarter a year earlier, values in the Kapiti Coast residential market were up 15.1% or $65,000 over the June 2016 quarter. Much of this increase was achieved in the final quarter of 2016 with the continued lift over subsequent quarters having cemented the new price levels. Roading infrastructure investments, which include the Kapiti expressway and Transmission gully, significantly promoted Kapiti Coast’s connection to the Wellington CBD and airport. With the reduced journey times, the Kapiti Coast […]

This publication is prepared by Bayleys Research. All opinions, statements, analyses expressed are based on information from sources which Bayleys Research believes to be authentic and reliable. Bayleys issues no invitation to anyone to rely solely on the information contained herein and intends by this statement to exclude liability for any such opinions, statements and analyses.

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